Address cash scarcity urgently – NLC tells Nigerian Govt

The Nigeria Labour Congress, NLC, has urged the Federal Government to immediately wade into the issue of cash scarcity across the country.

NLC President, Mr Joe Ajaero, made this call in a communique he jointly signed with Mr Emmanuel Ugboaja, General Secretary of NLC on Thursday in Abuja.

The communique was issued at the end of the National Executive Council, NEC, meeting held in Owerri.

According to Ajaero, the NEC in-session had expressed concern over the persistent cash scarcity in Nigeria, describing it as an unfortunate and exploitative burden on the already struggling populace.

He said NEC noted that Nigerians are being forced to forfeit five per cent of their funds each time they access cash, an unacceptable situation that exacerbates the economic woes faced by millions.

“The impact of this on small businesses and other informal economy operatives is huge as the situation poses serious disproportionate challenge to the poor and struggling workers and masses.

“The NLC demands immediate government intervention to rectify this systemic failure and protect citizens’ financial rights.

“We expect the Central Bank Governor to take steps to ensure that cash is made available to the citizenry to enable small business transactions and stimulate Economic growth,” he said.

The NLC boss also demanded that the tax bill currently before the National Assembly be halted for broader consultation and meaningful engagement with Nigerian workers.

He said that the politicisation of the bill and alienation of key stakeholders was worrisome and robbed it of its capacity as an effective tool to revamp the economy.